FTSE 100 tumbles as shrinking economic system spooks Metropolis

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FTSE 100 tumbles as shrinking economic system spooks Metropolis



The FTSE 100 fell right this moment after new figures confirmed that the UK economic system shrank in March as households reduce spending within the face of rising costs.London’s main index of shares fell by 1.56 per cent, or 114.32 factors, to shut 7,233.34 after the Workplace for Nationwide Statistics mentioned that gross home product fell by 0.1 per cent between February and March.The dip in output got here after Russia’s invasion of Ukraine in late February induced a spike within the worth of oil and gasoline and pushed shopper costs up even additional. Economists had predicted that output would stay flat.Sterling fell 0.3 per cent towards the greenback on the information.The UK’s financial contraction in March was pushed by a 2.8 per cent drop



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